The Freeland File
Aerospace & Defense
Global Market Data
Lucy P. Marcus
The Great Debate
Macro & Markets
Lipper Awards 2012
Personal Finance Video
Obama urges restraint in tense Asian disputes
Truce mediator Egypt sees imminent end to Gaza conflict
Testosterone, Viagra not a winning ED combination
19 Nov 2012
Broadwell hires Washington PR firm to deal with Petraeus scandal
19 Nov 2012
Yahoo shares reach 18-month high as investors warm to new CEO
19 Nov 2012
Top Hamas commander killed in Israeli airstrike
Israel hammers Hamas in Gaza offensive
Egypt PM to visit Gaza in support of Hamas against Israel
Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more
Best of the AMAs
Highlights from the American Music Awards. Slideshow
Scenes from Gaza and Israel. Slideshow
New start-up hubs challenging Silicon Valley: study
First iPad mini teardown reveals Samsung display
Thu, Nov 1 2012
PayPal cutting jobs as part of major reorganization
Mon, Oct 29 2012
Star Silicon Valley analyst felled by Facebook IPO fallout
Fri, Oct 26 2012
Analysis & Opinion
Small business owners â€œnervousâ€ about looming fiscal cliff
Is finance too competitive?
Small Business »
By Tarmo Virki
Tue Nov 20, 2012 7:41am EST
(Reuters) - Silicon Valley remains the world's most attractive spot for technology start-ups with other locations around the world catching up, according to a report published on Tuesday.
Silicon Valley-based start-ups raise, on average, a third more capital than those in other areas, the report, conducted by research firm Startup Genome and funded by Spanish group Telefonica, said.
Silicon Valley continued to lead in metrics including the amount of serial entrepreneurs, revenue models, and the level of education among business founders. Tel Aviv was ranked second, followed by Los Angeles, Seattle, New York and Boston.
"Some years ago it was only Silicon Valley. Now there are also other innovation hubs and this trend is only going to strengthen," said Gonzalo Martin-Villa, chief executive of Wayra - a Telefonica unit that nurses start-ups.
"Flourishing communities in Latin America, Europe, the Middle East and Asia have grown considerably over recent years and are now beginning to challenge Silicon Valley's domination in technology innovation," the report said.
Phil Liblin, chief executive of Silicon Valley-based writing app maker Evernote, said in a recent interview: "Silicon Valley does have a lot of magic in it. It is still the only place you can get $20 million without owning a suit, but you do not need 20 million any more."
The proliferation of Apple and Google app stores, Facebook and Twitter have enabled starting a global company with just $50,000 or $100,000, he said.
"I think the main structural advantages are disappearing. Silicon Valley's greatest innovation in the last couple years have made itself less unique."
(Reporting By Tarmo Virki; Editing by Dan Lalor)
Related Quotes and News
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Be the first to comment on reuters.com.
Add yours using the box above.
Back to top
New York Legal
Support & Contact
Connect with Reuters
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
About Thomson Reuters
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.